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Tag: oil

Aruba looks towards long-idled oil refinery, as tourism drop pummels economy

Aruba’s state-owned refining company Refineria di Aruba (RdA) is seen in San Nicolas, Aruba, April 9, 2021. REUTERS/Luc Cohen April 19, 2021 By Luc Cohen SAN NICOLAS, Aruba (Reuters) – A collapse in tourism due to the coronavirus pandemic has sent Aruba toward one of the world’s biggest economic contractions, prompting the island to try […]

Clean crude? Oil firms use offsets to claim green barrels

FILE PHOTO: Equipment used to process carbon dioxide, crude oil and water is seen at an Occidental Petroleum Corp enhanced oil recovery project in Hobbs, New Mexico, U.S. on May 3, 2017. REUTERS/Ernest Scheyder/File Photo April 16, 2021 By Timothy Gardner, Nerijus Adomaitis and Rod Nickel (Reuters) -In January, Occidental Petroleum announced it had accomplished […]

New York pension fund divests $7 million from Canadian oil sands firms

FILE PHOTO: Pipelines at Canadian Natural Resources Limited’s (CNRL) Primrose Lake oil sands project are seen near Cold Lake, Alberta August 8, 2013. REUTERS/Dan Riedlhuber/File Photo April 12, 2021 By Nia Williams CALGARY, Alberta (Reuters) -New York’s state pension fund is restricting investment in six Canadian oil sands companies because they have not shown they […]

Oil gains over 1% on strong U.S., China economic data

FILE PHOTO: A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant/File Photo April 6, 2021 By Stephanie Kelly NEW YORK (Reuters) – Strong economic data from China and the United States helped lift oil prices by more […]

Pakistan works to stop thousands of citizens from smuggling oil from Iran

A picture taken on March 12, 2017, shows an Iranian laborer walking the platform of the oil facility in the Khark Island, on the shore of the Gulf.  (Photo by ATTA KENARE/AFP via Getty Images) OAN NewsroomUPDATED 2:18 PM PT – Saturday, April 3, 2021 Pakistan is struggling to stop thousands of citizens from smuggling […]

OPEC, Russia agree to drop oil prices to wipe out competition

FILE – An official of a Saudi oil company watches progress at a rig at the al-Howta oil field near Howta, Saudi Arabia. (AP Photo/John Moore, File) OAN NewsroomUPDATED 7:02 AM PT – Friday, April 2, 2021 International oil cartel OPEC and its allies said they may drop crude prices again in response to an […]

Oil jumps 4% on fears Suez Canal blockage may last weeks

Stranded container ship Ever Given, one of the world’s largest container ships, is seen after it ran aground, in Suez Canal, Egypt March 26, 2021. REUTERS/Mohamed Abd El Ghany March 26, 2021 By Shadia Nasralla LONDON (Reuters) – Oil prices rose more than 3% on Friday, rebounding on concerns it could take weeks to dislodge […]

Oil falls over 3% as dollar rises and vaccine rollout stalls

FILE PHOTO: Crude oil is dispensed into a bottle in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration March 18, 2021 By Julia Payne LONDON (Reuters) – Oil prices sunk for a fifth day running on Thursday on a stronger dollar, a further increase in U.S. crude and fuel inventories and the weight of the […]

U.S. import prices rise strongly in February, boosted by crude oil, commodities

FILE PHOTO: Containers are seen on a shipping dock, as the global outbreak of the coronavirus disease (COVID-19) continues, in the Port of Los Angeles, California, U.S., April 16, 2020. REUTERS/Lucy Nicholson March 16, 2021 WASHINGTON (Reuters) – U.S. import prices increased strongly in February, boosted by higher costs for crude oil and commodities, strengthening […]

Analysts expect crude oil prices to keep rising throughout the year

MARTINEZ, CALIFORNIA – MARCH 03: Gas prices are displayed at a Speedway gas station on March 03, 2021 in Martinez, California. (Photo by Justin Sullivan/Getty Images) OAN NewsroomUPDATED 7:30 AM PT – Sunday, March 14, 2021 Crude oil prices are set to reach levels that have not been seen since 2014. According to recent reports, […]